OTTAWA, Feb 20 (Reuters) – Railways will have to carry additional insurance when they carry crude oil, and an additional fund will be set up with levies on oil shipments to cover major disasters, under legislation to be introduced on Friday, two sources familiar with the bill said. The legislation is in reaction to a […] Read more
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Canada to require more oil-by-rail insurance, special fund
USDA sees U.S. corn stockpiles shrinking, soy stocks rising
Feb 20 (Reuters) – U.S. corn stockpiles by the end of the 2015-16 marketing year are likely to decline from a year earlier while domestic soybean stocks should rise, the U.S. Department of Agriculture said on Friday at its annual outlook forum. The USDA projected 2015-16 corn production at 13.595 billion bushels, down 4 percent […] Read more
Deere cuts profit forecast as farm equipment sales decline
Feb 20 (Reuters) – Farm equipment maker Deere & Co posted a 43 percent fall in first-quarter profit and cut its full-year profit forecast as lower corn prices and weak farm income weighed on demand for agricultural machinery. Deere’s shares were down 1.9 percent at $90.00 in premarket trading on Friday. The company, which gets […] Read more
U.S. beef exports to drop in 2015 on high prices, tight supply -USDA
WASHINGTON, Feb 20 (Reuters) – U.S. beef exports will decline in 2015, as tight supplies, high prices and a strong dollar constrict demand from buyers holding other currencies, the U.S. Department of Agriculture said in Friday. Exports will likely fall 4.8 percent to 2.5 billion pounds this year, USDA said during its annual Agriculture Outlook […] Read more
CN Rail union warns against govt interference as strike looms
TORONTO, Feb 19 (Reuters) – A union that represents 4,800 workers at Canadian National Railway Co said on Thursday it would not accept government interference in its contract talks with the country’s No. 1 railroad operator. Unifor leaders said on a conference call they would proceed with a vote to strike. The remarks came after […] Read more
Improved fundamentals extend CME hog futures’ advances. cattle lower
By Theopolis Waters CHICAGO, Feb 19 (Reuters) – Chicago Mercantile Exchange lean hogs gained for a second straight session on Thursday, helped by firmer cash and wholesale pork prices, traders said. April futures closed up 2.825 cents at 67.050 cents per pound, and May 2.325 cents higher at 76.725 cents. Thursday morning’s average market-ready or […] Read more
New USDA report shows increased corn use for ethanol, less sorghum
Feb 19 (Reuters) – Use of U.S. corn in ethanol production increased 5 percent in December while sorghum use for biofuel tumbled 57 percent from the previous month, the U.S. Department of Agriculture said in a new monthly report on Thursday. The so-called Grain Crushings and Co-Products Production report was the first in a suite […] Read more
USDA lowballs soy plantings, oilseed futures rally
Canola futures rose Thursday on fund and crusher buying as well as a USDA forecast of soybean acreage that was well below expectations. Funds added to their long position in May canola and also rolled part of their March long position into May, a trader told Reuters. March canola gained $3.60 to close at $473.50 […] Read more
West Coast port impasse beefs up U.S. meat stockpile
By Theopolis Waters CHICAGO, Feb 19 (Reuters) – U.S. meat exporters caught in the middle of the West Coast port labor standoff diverted millions of pounds of chilled pork and beef into cold storage facilities over the last few weeks, creating an oversupply of meat, analysts said. Redirected protein shipments come as frozen inventories are […] Read more
Interest is high in new Man. wheat, barley association
The Manitoba Wheat and Barley Growers Association may have a long and triumphant existence if its first annual general meeting is an indicator of things to come. More than 200 farmers and interested parties packed into a hotel conference room in Winnipeg to attend the Feb. 18 meeting. Hotel staff had to take down a […] Read more
